INVICTUS' ACREAGE PHARMS COMPLETES SHIPMENT OF RECREATIONAL CANNABIS TO BRITISH COLUMBIA
September 25 2018 - 8:50AM
InvestorsHub NewsWire
INVICTUS’ ACREAGE PHARMS COMPLETES SHIPMENT OF RECREATIONAL
CANNABIS TO BRITISH COLUMBIA
Vancouver, BC
-- InvestorsHub NewsWire -- September 25, 2018 -- INVICTUS MD
STRATEGIES CORP. ("Invictus" or the "Company") (TSXV: GENE; OTCQX: IVITF; FRA: 8IS1)
is pleased to have completed its
first shipment of recreational cannabis to British Columbia on
time, following its inaugural shipment to Alberta. Staff have been
working around the clock to meet aggressive deadlines set to ensure
Invictus products are available to adult consumers on October 17,
2018.
This significant milestone was made possible by
the Company’s balanced and deliberate approach towards cultivation
and regulatory compliance. While Invictus focused on expansion of
its cultivation facilities, Acreage Pharms secured excise stamps
and Health Canada approved packaging for the adult recreational
market early, allowing Purchase Orders to be completed on time and
without issue.
“I am so proud of what our team has accomplished
to date,” said Dan Kriznic, Invictus Chairman and CEO. “With just
weeks remaining until recreational cannabis becomes legal in
Canada, it is amazing to see our vision come to life. Now we are
looking ahead to opening day, and we are
ready.”
To date, Invictus’
wholly-owned subsidiary Acreage Pharms has secured provincial
agreements for the upcoming adult recreational market in British
Columbia, Alberta and Saskatchewan, with others to follow-suit. To
expand the Company’s retail presence, Invictus is working in
collaboration with GTEC who expect to open 15 Cannabis Cowboy
stores in Alberta by October 17, 2018, one location and an
e-commerce platform in Saskatchewan, and additional retail stores
in Ontario as regulations permit.
Invictus is scaling up
its cultivation facilities to support local and international
opportunities, with its Phase 3 and 4 expansion at Acreage Pharms
constructed to support world-class EU-GMP standards. The 90,000
square foot Phase 3 facility, expected to be complete in January
2019, is fully funded as a result of the previously announced $25.5
million loan from ATB Financial. Approximately $10 million has been
dedicated to the 90,000 square foot Phase 4 facility, which will
commence construction upon completion of Phase
3.
In order to grow and
evolve with the market, Invictus is employing a five-pillar
distribution channel strategy that includes medical, recreational,
international, Licensed Producer to Licensed Producer, and retail
stores. Invictus products will be sold under the omnichannel
TerraWorld and feature four lifestyle-inspired cannabis brands for
recreational users: Dukes, Zooey, Sterling & Hunt, and
Sinister.
For
more information, please visit www.invictus-md.com.
On
Behalf of the Board,
Dan
Kriznic
Chairman and CEO
Jessica
Martin
Vice
President, Public Relations and Regulatory
Affairs
(604)
537-8676
About Invictus
Invictus is a global cannabis company offering a
selection of products under a wide range of lifestyle brands. Our
integrated sales approach is defined by five pillars of
distribution including medical, adult-use, international, Licensed
Producer to Licensed Producer and retail stores.
Invictus has partnered with business leaders to
convey our corporate vision, including KISS music legend and
business mogul Gene Simmons as our Chief Evangelist Officer, and
global branding agency Authentic Brands Group. Invictus is
expanding its cultivation footprint, with two cannabis production
facilities fully licensed under ACMPR in Canada and a third
awaiting approval, featuring 100,000 square feet of available grow
space today with 200,000 expected by January 2019 and 1 million by
end of 2019. The Company will earmark 50 per cent of production to
the medical and recreational markets, respectively. To ensure
consistency in quality and supply, Invictus maintains all aspects
of the growing process through its subsidiary, Future Harvest
Development Ltd., a high-quality Fertilizer and Nutrients
manufacturer. Invictus drives sustainable long-term shareholder
value through a diversified product portfolio with over 69 Health
Canada approved strains and a multifaceted distribution strategy
including medical, recreational, international and retail. For more
information visit www.invictus-md.com.
Cautionary Note
Regarding Forward-Looking Statements: This release includes certain
statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities
laws or forward-looking statements within the meaning of the United
States Private Securities Litigation Reform Act of 1995. All
statements in this news release, other than statements of
historical facts, including statements regarding future estimates,
plans, objectives, timing, assumptions or expectations of future
performance, including the timing, approval and completion of the
Arrangement and related matters and the potential production
capacity of Invictus, are forward-looking statements and contain
forward-looking information. Generally, forward-looking statements
and information can be identified by the use of forward-looking
terminology such as "intends" or "anticipates", or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "should", "would" or "occur".
Forward-looking statements are based on certain material
assumptions and analysis made by the Company and the opinions and
estimates of management as of the date of this press release,
including that Invictus will be successful in reaching its
potential production capacity, its production facilities will be
completed as anticipated, regulatory approval will be granted as
anticipated, Invictus will reach full production capacity on the
timeline anticipated by the Company, and no unforeseen
construction delays will be experienced. These forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements or forward-looking information.
Important factors that may cause actual results to vary, include,
without limitation, the Company will not obtain the requisite
approvals to complete the Arrangement, Invictus will not be
successful in reaching its potential production capacity, its
production facilities will not be completed as anticipated, and
licenses or approvals being granted on terms or timelines that are
materially worse than expected by the Company. Although management
of the Company has attempted to identify important factors that
could cause actual results to differ materially from those
contained in forward-looking statements or forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements and forward-looking
information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company
does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws.
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
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